News & Analysis as of

Surplus Lines Tax

Zelle  LLP

Even Surplus Lines Laws Are Bigger and Better in Texas

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On May 30, 2017, Texas House Bill 2492 made its final ascent to the office of Governor Greg Abbott. The bill passed through the Texas Legislature virtually unopposed. Assuming Governor Abbot signs the legislation, surplus...more

Locke Lord LLP

Surplus Lines Tax Filing Update: Surplus Lines Clearinghouse Issues Bulletin Discontinuing Multistate Platform

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As we previously reported, the Non-Admitted Insurance Multi-State Association (“NIMA”) had announced its intentions to dissolve, with a run-off period until September 30, 2017 to allow for endorsements to be filed through the...more

Locke Lord LLP

NIMA Formally Dissolves as Participatory States weigh in on Future Tax Treatment of Multi-State Risks

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Earlier this month we reported that Florida had withdrawn from the Non-Admitted Insurance Multi-State Association (“NIMA”), a compact between various state to distribute surplus lines premium taxes. We can now report that...more

Locke Lord LLP

Florida to Withdraw from the Nonadmitted Insurance Multi-State Agreement

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The Florida Surplus Lines Office (“FSLO”) has reported that, effective June 1, Florida will withdraw from the Nonadmitted Insurance Multi-State Agreement (NIMA). Filings after June 1 will now be filed with the FSLO and not...more

Carlton Fields

Louisiana Legislation Repeals Authority To Enter NIMA

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The Louisiana House of Representatives’ Bill 259, effective July 1, 2015 as Act 386, repeals the authority of the state’s insurance commissioner to enter the Non-Admitted Insurance Multi-State Agreement (“NIMA”) or other...more

Locke Lord LLP

Louisiana Cuts Surplus Lines Tax Rate

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Louisiana’s legislature recently enacted House Bill 259, which cuts the surplus lines tax rate from 5 percent to 4.85 percent. The law, which also eliminates the insurance commissioner's authority to enter into the...more

Locke Lord LLP

Wisconsin Decides to Not Become Full NIMA Member

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Wisconsin, which was an Associate Member of the Nonadmitted Insurance Multi-State Agreement, Inc. (“NIMA”) until June 30, 2015, announced this week that it will not become a full tax-sharing member of NIMA. As such, effective...more

Locke Lord LLP

Excess and Surplus Lines Laws in the United States: Including Direct Procurement Tax Laws and Industrial Insured Exemptions

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Preface: States’ Implementation Of NRRA In 2014: The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The...more

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